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An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
a.
Manufacturing costs:
Direct labor
Direct materials
Factory overhead
Total
b.
(Favorable)
Unfavorable
Manufacturing costs:
Direct labor
Direct materials
Factory overhead
Total
c.
0%
Exercise 23-3
Name:
Section:
Score:
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[Key code here]
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Instructions
Manufacturing Cost Budget
For the Month Ended July 31
GENIE IN A BOTTLE COMPANY
Key Code:
Cost per
Batch of 100
Standard Cost at
Planned Volume
(400,000 bottles)
Batches
of 100
GENIE IN A BOTTLE COMPANY
Manufacturing Costs⎯Budget Performance Report
For the Month Ended July 31
[Key essay answer here]
Cost Variance
Cost per
Batch of 100
Batches
of 100
Actual
Costs
Standard Cost at Actual Volume
(406,000 bottles)
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
a.
Manufacturing costs:
Direct labor 4,000 $2.00 8,000$
b.
(Favorable)
Unfavorable
Manufacturing costs:
Direct labor 7,540$ 4,060 $2.00 8,120$ (580)$
c.
Cells with non-gray backgrounds are protected and cannot be edited.
Exercise 23-3
Name:
Solution
Section:
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
GENIE IN A BOTTLE COMPANY
Manufacturing Costs⎯Budget Performance Report
For the Month Ended July 31
Actual
Costs
Standard Cost at Actual Volume
(406,000 bottles)
Cost Variance
Batches
of 100
Cost per
Batch of 100
GENIE IN A BOTTLE COMPANY
Manufacturing Cost Budget
For the Month Ended July 31
Standard Cost at
Planned Volume
(400,000 bottles)
Cost per
Batch of 100
Batches
of 100
An asterisk (*) will appear to the right of an incorrect entry.
Enter a zero in cells you would otherwise leave blank. Alternative Computation of Overhead Variances:
a. Controllable variance:
Actual variable factory overhead
Standard variable factory overhead Actual costs Applied costs
at actual production: Balance
Standard hours at actual production
Variable factory overhead rate
Standard variable factory overhead
Controllable variance⎯ Actual Factory Applied Factory
Overhead Overhead
b. Volume variance: Variable cost
Volume at 100% of normal capacity Fixed cost
Less standard hours Total
Idle capacity
Fixed overhead rate
Volume variance⎯
Controllable Volume
Total factory overhead cost variance⎯
Variance Variance
Total Factory
Overhead
Cost Variance
for Amount Produced
Exercise 23-18
Name:
Section:
Key Code:
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
Answers are entered in the cells with gray backgrounds.
0%
Score:
Factory Overhead
Budgeted Factory Overhead
Instructions
An asterisk (*) will appear to the right of an incorrect entry.
Enter a zero in cells you would otherwise leave blank. Alternative Computation of Overhead Variances:
a. Controllable variance:
Actual variable factory overhead 542,000$
Standard variable factory overhead Actual costs 782,000 777,000 Applied costs
at actual production: Balance 5,000 -
Standard hours at actual production 92,500 Underapplied
Variable factory overhead rate $6.00
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
Factory Overhead
Exercise 23-18
Name:
Solution
Section:
An asterisk (*) will appear to the right of an incorrect entry.
Enter a zero in cells you would otherwise leave blank.
Productive capacity for the month:
hours
Actual productive capacity used for the month: hours
Budget
(at actual
production) Actual Favorable Unfavorable Alternative Computation of Overhead Variances:
Variable factory overhead costs:
Indirect factory labor
Power and light Actual costs Applied costs
Indirect materials Balance
Total
Fixed factory overhead costs:
Supervisory salaries
Depreciation of plant and equip. Actual Factory Applied Factory
Insurance and property taxes Overhead Overhead
Total Variable cost
Total factory overhead cost Fixed cost
Total controllable variances Total
Net controllable variance⎯(favorable) unfavorable
Idle Hours
Volume variance⎯(fav.) unfav. Controllable Volume
Total factory overhead cost variance⎯(favorable) unfavorable Variance Variance
Total Factory
Overhead
Cost Variance
Supporting calculation:
Variable factory overhead rate:
Budgeted total variable cost
Budgeted hours
Variable factory overhead rate
Fixed factory overhead rate:
Total fixed costs
Productive capacity hours
Fixed factory overhead rate
Total
Actual hours
Applied costs
Factory Overhead
Budgeted Factory Overhead
for Amount Produced
Fixed Factory OH Rate
Score:
Key Code:
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[Key code here]
Answers are entered in the cells with gray backgrounds.
Instructions
0%
TANNIN PRODUCTS INC.
Factory Overhead Cost Variance Report⎯Trim Department
For the Month Ended July 31, 2016
Variances
Exercise 23-20
Name:
Section:
An asterisk (*) will appear to the right of an incorrect entry.
Enter a zero in cells you would otherwise leave blank.
Productive capacity for the month:
25,000 hours
Actual productive capacity used for the month: 22,000 hours
Budget
(at actual
production) Actual Favorable Unfavorable Alternative Computation of Overhead Variances:
Variable factory overhead costs:
Indirect factory labor 50,600$ 49,700$ 900$ -$
Fixed factory overhead costs:
Supervisory salaries 54,500$ 54,500$ - -
Depreciation of plant and equip. 40,000 40,000 - - Actual Factory Applied Factory
Supporting calculation:
Variable factory overhead rate:
Budgeted total variable cost
78,000$
Budgeted hours 20,000
Variable factory overhead rate
$3.90
Fixed factory overhead rate:
Budgeted Factory Overhead
TANNIN PRODUCTS INC.
Factory Overhead Cost Variance Report⎯Trim Department
For the Month Ended July 31, 2016
Variances
Factory Overhead
Exercise 23-20
Name:
Solution
Section:
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Score:
Instructions
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ON
